Question

7 On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. 11.11 points Book April 1 Noroni invested $44,000 cash and computer equipment worth $20,000 in the company in exchange for common stock. 2 The company rented furnished office space by paying $1,000 cash for the first month's (April) rent. 3 The company purchased $2,000 of office supplies for cash. 10 The company paid $2,200 cash for the premium on a 12-sonth insurance policy. Coverage begins on April 11. 14 The company paid $1,700 cash for two weeks' salaries earned by employees. 24 The company collected $18,000 cash for commissions earned. 28 The company paid $1,700 cash for two weeks' salaries earned by employees. 29 The company paid $400 cash for minor repairs to the company's computer. 30 The company paid $1,100 cash for this month's telephone bill. 30 The company paid $1,900 cash in dividends. References The company's chart of accounts follows: 101 Cash 106 Accounts Receivable 124 office Supplies 128 Prepaid Insurance 167 Computer Equipment 168 Accumulated Depreciation Computer Equip. 209 Salaries Payable 307 Common Stock 318 Retained Earnings 319 Dividends 405 Commissions Earned 612 Depreciation Expense-Computer Equip. 622 salaries Expense 637 Insurance Expense 640 Rent Expense 650 office Supplies Expense 684 Repairs Expense 688 Telephone Expense 901 Income Summary Use the following information: a. Prepaid insurance of $122 has expired this month. b. At the end of the month, $600 of office supplies are still available. c. This month's depreciation on the computer equipment is $500.

Answer 1

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Part 1&2 ($2 Debit Date General Iobrenal Credit Ape, I De Cash Computer Equipment J. Nozomi Capital 44000 20000 64,000 Apt2 C Rent expense 1,800 Cashda 1 800 Apr 3 з Office Supplies Du, 2000 Cash 2,000 Ape to Prepaid Expense / Insurance De. Cash 2,200 2,200 Ape 14 dalasjes Cash Eupense £. 170o I too Apray 18,000 Cash on Commission earned 18.000 Apr 28 Salaries lapense 1,700 17oo Repailes expenses De. 400 Cash 4oo

Part 4 Transaction General Jowenal Debit Credit (a) 122 I uswrance Expense Preepaid insurance 122 Dr. 1 400 1400 Ohice Supplies Expense Office Supplies ( 2000 - 600) Depreciation Eup - Comp. Eqp. De. Acc. Dep. - Computer equipment 500 (c) 500 400 Salaries Palaries Expense Payable 400 1, 10 Accounts Commission Receivable earned 1,750

id 4 Adventure Travel Adjusted Trial Balance Accocent Title Debit Credit 49200 1750 600 2018 20,000 500 Yoo 64000 Cash Accounts Receivable Office Supplies Propaid Jusurance Computer Equipment Accumulated Depreciation escalaries payable J. Nozomi capital J. Nozomi with drawals Commission earnod Depreciation expense. Salaries Expense Insurance Expense Rent Expense Office Supplies expense , Repain enpente Telepore eupense 1900 19 750 500 3800 122 1800 1400 400 lloo Total 84 650 84650

o 00 Aprzo De. 1,100 Telephone dapens Cash 1,100 Apr 30 1900 J. Nozomi , withdrawas cash 1900 Part 3 Balance Adventure Travel Unadjusted Trial April 30 Accocend title Debit ) Credit 49,200 ၃ ၀၀၀ २,२०० 20,000 64,000 Lash office suppliers Preepaid Iusweance. Computer equipment J. Nozomict, Capital J. Nozomi Commission earned Salary Expense Rent Eupense Repair Enpense Telephone expense المدربويه ما اما 1,900 18,000 3,400 1,800 400 I loo Total 82,000 82,000

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